93.5 billion pounds in investments directed to the manufacturing sector during the 22/2023

Hala Al-Saeed, Minister of Planning and Economic Development, announced directing investments of about 93.5 billion pounds to the manufacturing sector, during the current fiscal year 2023/2022, an increase of 6.1% over the corresponding investments in the previous year, and non-oil manufacturing industries account for about 80% of The sector’s total investments are (74.1 billion pounds), while the petroleum manufacturing industries occupies the remaining 20% ​​(19.4 billion pounds).

This came in the report of the Ministry of Planning and Economic Development, on the targets and investments of the manufacturing sector in the plan for the current fiscal year 22/2023.

Dr. Hala Al-Saeed, Minister of Planning and Economic Development, pointed to the economic importance of the manufacturing sector, as the industrial sector occupies the first place, in terms of contributing to the GDP with a share of no less than 16%, in addition to employing a percentage of the workforce that exceeds 15% of the total. The sector’s contribution to export activity is also increasing by up to 85% of the total non-oil merchandise exports, which qualifies it to exchange the first place with the remittances of Egyptians working abroad in the list of main sources of foreign exchange generating.

She explained that according to the sustainable development strategy “Egypt Vision 2030”, the future vision of the industrial sector is for industrial development to be the engine of inclusive and sustainable economic development in Egypt, which meets domestic demand and supports export growth so that Egypt becomes an active player in the global economy, able to adapt to global variables.

Regarding the main objectives of the plan for the year 22/2023, Al-Saeed said, in a press statement, today, Friday, that it is estimated that industrial production, including petroleum refining, will rise from about EGP 2984.7 billion to about EGP 3405.3 billion, achieving a growth rate of 14.1%. It is estimated that the industrial output during the year 22/2023 will reach about 1357.9 billion pounds, compared to about 1176.8 billion pounds in the previous year, an increase of 15.4%.

The report of the Ministry of Planning referred to the main programs of the plan for the year 2023/22, where the plan of the Ministry of Trade and Industry is based on the implementation of four main work programs, represented in the program to stimulate industrial investment and deepen local manufacturing. The program is based on improving the industrial business environment through the implementation of the initiative of the 100 measures to stimulate the sector The industrial park, the trend towards digital transformation in providing services, facilitating the procedures for issuing industrial licenses, establishing industrial clusters directed at import substitution, working on developing and raising the efficiency of the operation of existing industrial areas in Upper Egypt, in addition to supporting the green industry and encouraging the transition to a sustainable industry based on rationalizing resources and ensuring efficiency Using it, working on transferring and settling technology and innovation to promote the green industry, and developing and preparing the infrastructure for a number of labor-intensive, specialized industrial complexes (Al-Mahalla Al-Kubra – Kafr Al-Dawwar – Mergem).

In addition to the program to improve the competitiveness of the industrial sector, which aims to increase the quality of industrial products, and develop their ability to compete in the local and foreign markets, including the development of the standards and quality system, examination and testing systems, as well as work on qualifying facilities to obtain quality certificates, and to carry out the requirements of industrial control. Industrial and service production, provision of technical support services, capacity building of industrial establishments and industrial modernization.

With regard to the export development program, the report explained that it aims to enhance the presence of Egyptian products in foreign markets, and increase their competitiveness by implementing a number of procedures and services to the exporting community, including developing foreign trade policies and removing obstacles facing Egyptian exports, protecting Egyptian exports in foreign markets. The national industry will prevent harmful practices in foreign trade, develop the export support system and link it to a set of standards, in addition to improving the export and import control system by developing test laboratories in ports and facilitating procedures, as well as moving towards target markets that include promising export opportunities.

The report dealt with the skills development program for workers in the industrial sector, which aims to develop the skills of workers in the industrial sector, develop the industrial training system, and build local and international partnerships to raise the efficiency of the human element in accordance with international standards, through the services provided by training institutions, such as the Department of Productive Competence and the Tabbin Institute for Metallurgical Industries, To achieve industrial development, and train young people to practice technical work through the spread centers for the benefit of productive efficiency, which covers a number of important industrial sectors. The work of the Tabbin Institute is also based on providing education and post-university specialized training for workers in the metallurgical, mining and engineering industries.

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